DELHI FARMING & CONSTRUCTION(P) LTD. vs. COMMNR. OF INCOME TAX, DELHI
In the result, we set aside the judgment of the High Court and uphold the
C.A. No.-007525-007527 - 2001Supreme Court26 Mar 2003
For Respondent: COMMISSIONER OF INCOME TAX, DELHI
Section 104
gains" and in the manner indicated in
the fasciculus of sections 45 to 55A.
The learned counsel for the appellant urged the following contentions in
support of the appeal :
(a) That the sale proceeds of agricultural land are totally exempt from the
charge of tax under section 45 of the Act by reason of section 47(viii);
hence, the capital
